Stephen F. Austin State University
Statement of Changes in Investment Assets
Operating Fund
At November 30, 2004
Book Value Market Value
Beginning Investment Assets - 09/01/04 18,403,017.20 18,477,185.94
Receipts/Contributions 5,000,690.36 5,000,690.36
Investment Income 124,252.50 124,252.50
Change in Accrued Interest 12,950.06
Distributions (2,829,564.89) (2,829,564.89)
Net Realized Gains (Losses) (6,124.59) (6,124.59)
Change in Cost Basis (33,773.20)
Changes in Net Unrealized Appreciation (Depreciation)   (97,292.20)
Ending Investment Assets - 11/30/04 20,658,497.38 20,682,097.18
Rate of Return 0.17%
Accrued interest for the reporting period 90,850.80
Prior period accrued interest 77,900.74
Prepared in Compliance with Generally Accepted Accounting Priniciples